US President-elect Donald Trump has continued a flurry of executive branch nominations by tapping Paul Atkins to be the next Chairman of the Securities & Exchange Commission, to replace outgoing Chair Gary Gensler.
- Trump said in a statement on Truth Social: "Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investor... He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before."
- Bloomberg notes: "...Trump is tapping one of the most influential GOP financial regulation insiders to oversee Wall Street. If confirmed, Atkins is expected to focus on whittling away at regulations and levying lower penalties for violations."
- Tyler Gellasch, president of the Healthy Markets Association, said: “He’s the godfather of conservative capital markets ideology and mentor to a generation of policymakers. It’s hard to imagine a more connected and capable leader to scale back the SEC and its rules.”
- Atkins' nomination fulfils a Trump campaign promise to appoint a crypto-friendly administration. The NYT notes Atkins, "has been playing an active role in helping to draft “best practices” for crypto trading platforms as co-chair of the Token Alliance, which is part of the Digital Chamber of Commerce."
- Trump also nominates William Joseph McGinley to serve as Counsel to the Department of Government Efficiency (“DOGE”) and David Warrington to serve as Assistant to the President and Counsel to the President - the top attorney in the White House.
